Restricted Trading Period. The period during which (a)(i) the S&P rating of any of the Class A Debt is one or more sub-categories below its rating on the Closing Date or (ii) the S&P rating of the Class B Notes is two or more sub-categories below its rating on the Closing Date and (b) after giving effect to any sale (and any related reinvestment) or purchase of the relevant Collateral Obligation, (i) the aggregate principal balance of all Collateral Obligations plus, without duplication, amounts on deposit in the Principal Collection Subaccount (including to the extent such amounts have been designated for application as Principal Proceeds in connection with a Contribution to the Issuer) and the Ramp-Up Account will be less than the Reinvestment Target Par Balance or (ii)(A) any of the Coverage Tests are not satisfied or (B) solely with respect to any purchase or reinvestment of sale proceeds, the Collateral Quality Test is not satisfied, or if any test thereof is not satisfied, the level of compliance with such test is not maintained or improved unless with respect to any proposed sale of a Collateral Obligation, after giving effect to such sale and application of proceeds on the next succeeding Payment Date such Coverage Tests will be satisfied; provided, that such period will not be a Restricted Trading Period (so long as the S&P rating of the Class A Debt or the Class B Notes have not been further downgraded, withdrawn or put on watch for potential downgrade) upon the direction of the Issuer with the consent of a Majority of the Class A Debt.
Restricted Trading Period. The period during which, (a) the Mxxxx'x rating of the Class A Notes is withdrawn (and not reinstated) or is one or more sub-categories below its initial rating on the Closing Date or (b)the Mxxxx'x rating of the Class B Notes, the Class C Notes, the Class D Notes or the Class E Notes is withdrawn (and not reinstated) or is two or more sub-categories below its initial rating on the Closing Date; provided, however, that the Restricted Trading Period shall not apply (so long as the Mxxxx'x rating of the applicable Class of Notes has not been further downgraded, withdrawn or put on watch) if either (i) a Majority of the Controlling Class provides a direction to the Trustee rescinding such Restricted Trading Period or (ii) after giving effect to any sale (and any related reinvestment) or purchase of the relevant Collateral Obligations, the Aggregate Principal Balance of the Collateral Obligations (excluding the Collateral Obligation being sold but including any related reinvestment) and Eligible Investments constituting Principal Proceeds (including, without duplication, the related reinvestment or any remaining net proceeds of such sale) will be greater than the Reinvestment Target Par Balance; provided that, for the purpose of this clause (ii), the Principal Balance of any Defaulted Obligation shall be the Moody's Collateral Value of such Defaulted Obligation; provided further, that the Principal Balance will be zero for any Defaulted Obligation which the Issuer has owned for more than three years after its default date. For the avoidance of doubt, any rating of a Class of Notes that is withdrawn upon repayment in full of the principal of such Class of Notes will not be considered a rating that is "withdrawn" hereunder.
Restricted Trading Period a period of twelve (12) months from the date on which the Consideration Shares being allotted and issued to the Vendors or their nominees;
Examples of Restricted Trading Period in a sentence
No Employee including his/her Immediate Relatives shall either on his/ her own behalf or on behalf of any other person, trade or undertake to trade or cause to trade in the Securities of the Company (i) when he/ she is in possession of any Unpublished Price Sensitive Information and (ii) during the Restricted Trading Period.
No Employee of the company including his/her Immediate Relatives shall either on his/ her own behalf or on behalf of any other person, trade or undertake to trade or cause to trade in the Securities of the Company (i) when he/ she is in possession of any Unpublished Price Sensitive Information and (ii) during the Restricted Trading Period.
Examples of when the Company may implement a Restricted Trading Period are referenced above.
No Employee including his/her Immediate Relatives shall either on his/ her own behalf or own behalf of any other person, trade or undertake to trade or cause to trade in the Securities of the Company (i) when he/she is in possession of any Unpublished Price Sensitive Information and(ii) during the Restricted Trading Period.
No employee of the Company including his/her Immediate Relatives shall either on his/ her own behalf or on behalf of any other person, trade or undertake to trade or cause to trade in the Securities of the Company (i) when he/ she is in possession of any Unpublished Price Sensitive Information and (ii) during the Restricted Trading Period.
More Definitions of Restricted Trading Period
Restricted Trading Period. Each day during which, both: (i) (a) S&P’s rating of the Class A-1 Notes or Fitch’s rating of the Class A-1 Notes is one or more subcategories below its initial rating thereof or has been withdrawn (unless it has been reinstated) or (b) S&P’s rating of the Class A-2 Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C Notes or the Class D Notes is two or more subcategories below its initial rating thereof or has been withdrawn (unless it has been reinstated) and (ii) after giving effect to the applicable sale and reinvestment in Collateral Obligations, the sum of the aggregate principal balance of all Collateral Obligations (excluding the Collateral Obligations being sold) and all Eligible Investments constituting Principal Proceeds (including, without duplication, the net proceeds of any such sale) is less than the Reinvestment Target Par Balance; provided however that a Majority of the Controlling Class may elect to waive the Restricted Trading Period, which waiver will remain in effect until the earlier of (A) revocation of such waiver by a Majority of the Controlling Class and (B) further downgrade or withdrawal of the rating of the Class A-1 Notes, the Class A-2 Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C Notes or the Class D Notes.
Restricted Trading Period means the period during which, if the relevant Class of Notes remains Outstanding (i) the rating by any Rating Agency of any Class of Senior Notes is one or more subcategories below its initial rating; (ii) the rating by any Rating Agency of any other Class of Secured Notes is two or more subcategories below its initial rating; or (iii) the rating by any Rating Agency of any Class of Secured Notes has been withdrawn (unless it has been reinstated), other than in the case of a withdrawal due to a repayment in full of the applicable Class of Secured Notes; provided that a Majority of the Controlling Class may elect to waive such condition, which waiver will remain in effect until the earlier of (A) revocation of such waiver by a Majority of the Controlling Class and (B) a further downgrade or withdrawal of the rating by any Rating Agency of any Class of Secured Notes; provided, further, that such period shall not be a Restricted Trading Period if (A) the Effective Date Overcollateralization Test is satisfied, (B) each of the Collateral Quality Tests is satisfied and (C) the Aggregate Principal Balance of all Underlying Assets plus, without duplication, amounts on deposit in the Collection Account and the Unused Proceeds Account (including Eligible Investments therein) representing Principal Proceeds plus amounts (including Eligible Investments therein) on deposit in the Variable Funding Account will be no less than the Reinvestment Target Par Balance.
Restricted Trading Period. The period during which (a) the S&P rating of any of the Class A Debt is one or more subcategories below its rating on the Closing Date or (b) the S&P rating of any of the Class B Notes is two or more subcategories below its rating on the Closing Date; provided, that such period will not be a Restricted Trading Period (i) (x) if the Aggregate Principal Balance of the Collateral Obligations plus Eligible Investments constituting Principal Proceeds is greater than or equal to the Reinvestment Target Par Balance and (y) the Coverage Tests, the Minimum Weighted Average S&P Recovery Rate Test and the Minimum Floating Spread Test are satisfied or (ii) so long as the S&P rating of any Class of Debt has not been further downgraded, withdrawn or put on watch for potential downgrade, upon the direction of the Issuer with the consent of a Majority of the Controlling Class; provided, further that no Restricted Trading
Restricted Trading Period. The period during which (a) the Xxxxx’x rating of the Class A Notes is one or more sub-categories below its rating on the Closing Date or (b) the Xxxxx’x rating of the Class A Notes (then outstanding) has been withdrawn and not reinstated; provided, that such period will not be a Restricted Trading Period (so long as the Xxxxx’x rating of the Class A Notes has not been further downgraded, withdrawn or put on watch for potential downgrade) upon the direction of the Issuer with the consent of a Majority of the Controlling Class.
Restricted Trading Period. The period during which (a) the Xxxxx’x rating of any of the Class A Notes is one or more subcategories below its rating on the Closing Date, (b) the Xxxxx’x rating of any of the Class B Notes, the Class C Notes, the Class D Notes or the Class E Notes is two or more subcategories below its rating on the Closing Date, or (c) the Xxxxx’x rating of any Class of Notes (in each case then outstanding) has been withdrawn and not reinstated; provided, that such period will not be a Restricted Trading Period (i) if the aggregate principal balance of the Collateral Obligations plus Eligible Investments constituting Principal Proceeds is greater than or equal to the Reinvestment Target Par Balance, or (ii) so long as the Xxxxx’x rating of any Class of Notes has not been further downgraded, withdrawn or put on watch for potential downgrade, upon the direction of the Issuer with the consent of a Majority of the Controlling Class.
Restricted Trading Period means the period during which, if the relevant Class of Notes remains Outstanding (i) the rating by S&PMoody's or Fitch of the Class A Notes is one or more subcategories below its initial rating on the First Refinancing Date; (ii) the rating by S&PMoody's of the Class B Notes or, unless the Controlling Class Condition is satisfied, the Class C Notes, the Class D Notes or the Class E Notes is two or more subcategories below its initial rating on the First Refinancing Date; or (iii) the rating by S&PMoody's of either the Class A Notes or the Class B Notes has been withdrawn (unless it has been reinstated), other than in the case of a withdrawal due to a repayment in full of the applicable Class of Secured Notes; provided that a Majority of the Controlling Class may elect to waive such condition, which waiver will remain in effect until the earlier of (A) revocation of such waiver by a Majority of the Controlling Class and (B) a further downgrade or withdrawal of the rating by S&Pany Rating Agency of any applicable Class of Secured Notes; provided, further, that such period shall not be a Restricted Trading Period if the Overcollateralization Tests are satisfied.
Restricted Trading Period. Each day during which (1)(A) the Xxxxx’x rating of the Class A Notes is withdrawn (and not reinstated) or is one or more sub-categories below its rating on the Closing Date or (B) the Xxxxx’x rating of the Class B Notes, Class C Notes, Class D Notes or Class E Notes is withdrawn (and not reinstated) or is two or more sub-categories below its rating on the Closing Date and (2) after giving effect to any sale or purchase of the relevant Collateral Obligation, (A) as a result of the use of “Restricted Trading Period” pursuant to Section 12.2(b), any of the Par Value Ratio Tests will not be satisfied and (B) as a result of the use of “Restricted Trading Period” pursuant to any other provision, the Aggregate Principal Balance of Collateral Obligations (excluding the Collateral Obligations being sold) and Eligible Investments constituting Principal Proceeds (including, without duplication, the anticipated net Sale Proceeds of such sale) will be less than the Reinvestment Target Par Balance; provided that such period will not be a Restricted Trading Period upon the direction of a Majority of the Controlling Class, which direction by the Majority of the Controlling Class shall remain in effect until the earlier of (i) a subsequent direction by a Majority of the Controlling Class to declare the beginning of a Restricted Trading Period or (ii) a further downgrade or withdrawal of any Class of Notes that notwithstanding such direction would cause the conditions set forth in clauses (1)(A) or (1)(B) to be true. No Restricted Trading Period shall restrict any sale of a Collateral Obligation entered into by the Issuer at the time when a Restricted Trading Period is not in effect, regardless of whether such sale has settled.